The tech analyst made the Facebook-parent the No. 1 stock on his list, moving it up from No. 3 spot, citing a more positive outlook for the social media firm.
Meta replaces Netflix in the top spot. Meta is working to improve its cost structure after Covid, the analyst said. What's more, the social media company is recovering more advertising dollars, and its Reels business has a pathway to close the monetization gap, according to his checks. "META still remains the leading global Social Media & Messaging platform, and Q4 results demonstrate rising users and engagement.
mountain Meta shares 1-year Meta is outperforming this year after lagging the market and its Big Tech brethren last year. In 2022, the social media stock dropped 64% to lag Alphabet, Amazon, Apple and Netflix. Netflix, the second-worst performing firm of that group, fell 51% last year. This year, however, Meta shares are up more than 50% amid a broader run-up in internet stocks and the company's focus shift toward efficiency .
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